Job Title

Location: Vidyavihar and Worli, Mumbai Experience: 8+ years Role Overview: The Product Development Manager is responsible for designing, developing, and managing innovative insurance products that align with market trends, regulatory requirements, and business objectives. This role involves cross-functional collaboration with underwriting, actuarial, marketing, and operations teams to ensure seamless product integration and successful market positioning. Key Responsibilities: Product Strategy & Development: Identify market needs, customer preferences, and industry trends to develop innovative insurance products. Define product features, pricing strategies, and go-to-market plans in collaboration with cross-functional teams. Ensure new product launches align with company goals and regulatory requirements. Market Research & Competitor Analysis: Conduct market research and competitive analysis to identify product opportunities and differentiators. Monitor industry trends and customer feedback to enhance existing products. Benchmark product performance against competitors and recommend improvements. Regulatory Compliance & Risk Assessment: Ensure all products comply with IRDAI regulations and other applicable laws. Work closely with legal, compliance, and underwriting teams to mitigate product-related risks. Update product policies and features based on regulatory changes. Stakeholder Collaboration & Implementation: Work with underwriting, claims, IT, and operations teams to ensure seamless product integration. Coordinate with sales and marketing teams to develop product positioning, sales strategies, and training materials. Ensure product-related processes are streamlined and aligned with business objectives. Performance Tracking & Process Improvement: Define and track key performance indicators (KPIs) for product success. Gather customer and stakeholder feedback to enhance product offerings. Drive digital and automation initiatives to optimize product processes. Qualifications & Skills: Experience: 8+ years of experience in product development, underwriting, or strategy within the insurance sector. Proven track record in launching and managing insurance products. Strong understanding of regulatory frameworks and risk assessment in insurance. Skills: Expertise in market research, product design, and pricing strategies. Strong analytical and problem-solving abilities. Excellent communication, stakeholder management, and leadership skills. Proficiency in MS Office, data analysis tools, and insurance software. Educational Qualification: Bachelor’s degree in Business Administration, Insurance, Actuarial Science, or a related field (MBA preferred ).